Most Common Types of Financial Elder Abuse in California

When most people think of elder abuse, they think of physical abuse. While physical abuse of elders is common, financial elder abuse is actually the most common and is steadily on the rise. In California, there are laws against all types of elder abuse, including financial elder abuse. If you suspect a loved one has been the victim of financial elder abuse, contact the attorneys at Willoughby Brod today to help your loved ones seek justice and obtain the compensation they deserve.

What is Financial Elder Abuse?

Financial elder abuse, also known as senior fraud, is when an elderly individual’s money, assets or property are mismanaged, stolen, or obtained by coercive and fraudulent means. A person who is found to have committed elder abuse can be charged with a felony, which can result in two to four years of state prison time, or a misdemeanor, which can result in up to one year in county jail and thousands of dollars in fines, depending on the person’s background and history.

Most Common Types of Financial Elder Abuse

The following are some of the most common types of financial elder abuse seen in California. It is by no means a conclusive list.

Credit Card, Telemarketing, Internet, and Other Scams

With the advancement of technology, fraudsters are constantly inventing new types of scams to take advantage of the elder. One of the most common types of scams is the telemarketing scam, in which fraudsters convince elderly individuals to invest their money or capital in fake companies, charities, products, and even religious institutions. Other scammers may try to convince elderly individuals that they can help repair the elderly’s credit if they hand over their credit card number and other personal information. Finally, there have been scammers who have posed as an elderly individual’s grandchild and called to ask for money. Elderly individuals can be particularly vulnerable to these scams, so make sure to remind your elderly loved ones to beware of these common types of scams.

Theft

Elderly individuals can be seen as easy targets for theft, both by those in their community as well as strangers. When walking on the street alone, elderly individuals can be seen as weak and easy targets for criminals who want to steal their wallet, purse, or other valuables. Within an elderly individual’s community, a nursing home attendant or even a friend or family member can try to take advantage of the elderly individual’s vulnerability to obtain personal financial information that they subsequently use to steal more.

Manipulation and Threats

Criminals interested in committing senior abuse fraud may try to reach their goals by manipulating or threatening an elderly citizen into giving them money or assets. Elderly citizens who have memory loss are especially susceptible to this type of scheme because they can not always remember whether they have made promises or agreements to others recently.

Contact a California Elder Abuse Lawyer Today

If you believe a loved one has been the victim of elder abuse, call the attorneys at Willoughby Brod today to seek justice for your loved one. Our attorneys have helped elderly individuals who have been taken advantage of obtain the full recovery they deserve and regain financial security in their lives. Contact us today at (800) 427-7020 or visit us online to schedule your free consultation.